StepStone Closes Secondary PE Fund with $450M

April 17, 2013

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StepStone Group has closed its StepStone Secondary Opportunities Fund II with total commitments of $450 million. The fund closed at its hard cap and exceeded its original $350 million target. The fund will focus on the smaller end of the secondaries market. Combined with allocated capital from separately managed accounts, StepStone has raised approximately $650 million for a strategy within the secondaries market.